Amazon Gets Serious About Price Gouging
Amazon announced more than “half a million” items from its platform have been removed and 4,000 accounts were suspended due to price gouging amid the COVID-19 pandemic.
Approximately half of the items sold by the online retailer are sold by third parties who set their own prices. Company regulations prevent sellers from exploiting emergencies by selling “excessively” high prices on essentials.
“We are issuing regular reminders to our sellers about these longstanding policies, and we are enforcing them aggressively to protect our customers,” the company wrote.
Amazon also said it is working with federal, state and local law enforcement to further hold price gougers accountable.
Amazon is continuing to monitor for products and sellers that make false or misleading claims about their products, especially products that claim to offer to cure or treat coronavirus.